The world is experiencing a dramatic bout of inflation. Except for the places where it is not. Sharp price rises in the US and UK — where the headline consumer price index is up by 6 per cent and 4 per cent, respectively — have raised fears of a disastrous mistake by central banks and a return to the chronic inflation of the 1970s. But across much of Asia, price rises are subdued. That divergence holds lessons for economic policy, now and in the future.
世界正在經歷一輪戲劇性的通脹——但有些地方的通脹并未大幅上升。美國和英國的物價急劇上漲——整體消費價格指數(CPI)分別上漲6%和4%——令人擔憂央行犯下災難性錯誤，讓世界重返上世紀70年代那種長期通脹。但在亞洲很多地方，價格漲幅并不高。這種差異為現在乃至未來的經濟政策提供了啟迪。
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